Companies that have gained a comfortable lead over their competitors
in the global sample preparation market worldwide have done so
primarily by ploughing back profits into R&D initiatives and
incorporating superior technologies for automated instruments.
Transparency Market Research’s (TMR) new study finds that the
sample preparation market is dominated by Thermo Fisher Scientific,
Inc., Merck KGaA, PerkinElmer, Inc. and Agilent Technologies, whose
collective revenue share was just shy of 59% of the market in 2015.
Among these, Thermo Fisher Scientific was the undisputed leader in
the sample preparation market thanks to its expansive product
portfolio and wide geographical reach.
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“Regulatory requirements for testing substances, chemicals, and
pharmaceuticals are only becoming more complex with every passing
year. This, combined with the fact that most samples cannot be
introduced or injected directly into the analytical instrument, makes
a strong case for the demand for sample preparation technologies and
instruments. No matter how sophisticated sample preparation
technologies and instruments get, there is always going to be space
to introduce more efficient products, making the sample preparation
market dynamic in both the long and short term,” said a TMR
analyst.
Investor sentiment remains very positive in the biotechnology and
life sciences sectors in nearly every emerging market worldwide.
Global leaders in the healthcare industry are investing an
overwhelming majority of their R&D budgets in pharmaceuticals and
diagnostics. This unmistakable emphasis on R&D by the market
leaders has prompted other competitors in the market to follow suit.
Thus, TMR estimates that this keen inclination toward drug discovery
and biosimilars will also give the sample preparation market a shot
in the arm.
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At the same time, new breakthroughs in technologies to make sample
preparation quicker and more convenient are aiding the market’s
growth. Recent advances in equipment, such as automation, and
techniques, such as solid supported liquid-liquid extraction, have
been crucial to the positive growth posted by the sample preparation
market globally. The launch of kits and consumables for specialized
and niche studies also bodes well for the sample preparation market,
notes TMR.
The intensive investments in R&D into new sample preparation
equipment and technologies, prompted by the stiff competition in this
market, forces companies to pass on some portion of the costs to
consumers. The impact of this is especially evident in emerging
countries where consumers look toward used equipment in keeping with
their modest budgets. Investments in cost-intensive upgrades are
often deferred or entirely canned in several cases because consumers
are concerned about erosion of investments with the continuous
evolution of sample preparation equipment and techniques. However,
TMR expects that the advent of national and regional genome projects
could open a door of opportunity for companies in the sample
preparation market.
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The global sample preparation market was valued at US$4.6 bn in 2015
and is expected to reach a valuation of US$8.3 bn by 2024, exhibiting
a CAGR of 6.6% from 2016 to 2024. Sample preparation instruments
constituted the largest share of the global sample preparation market
in 2015 as compared to other sample preparation products. Their
efficiency in addressing high-throughput requirements of the sample
preparation industry can be credited for their leading position.
Consumables trail the instruments segment in terms of growth.
TMR states that pharmaceutical companies-thanks to their heavy
reliance on sample preparation through the drug development
process-will be the key end-user segment in the global sample
preparation market. However, molecular diagnostic laboratories are
expected to show a high single-digit CAGR through the report’s
forecast period.
On the basis of application, the use of sample preparation in
genomics is expected to generate the highest revenue. Between 2016
and 2024, however, the epigenomics segment will register an 8.0%
CAGR, which is the highest among all application segments. By
geography, North America is expected to maintain a lead in terms of
revenue until 2024, whereas Asia Pacific will have the highest CAGR
at 8.0% between 2016 and 2024.
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